Virginia HB 480

Elections; campaign finance; federal political action committees; reporting requirements. Requires a federal political action committee that makes contributions of $50,000 or more to a candidate for statewide office, $25,000 or more to a candidate for an office in the General Assembly, or $10,000 or more to a candidate for any other office of the Commonwealth to make scheduled reports of its contributions and contributors to the State Board of Elections. The bill also requires federal political action committees that are required to make such scheduled reports to also report (i) any single contribution or loan of $10,000 or more received at any time during the calendar year within three business days of receipt of the contribution or loan and (ii) any single contribution received or expenditure made of $1,000 or more between May 26 and the third Tuesday in June in odd-numbered years and between October 8 and the date of the November general election in any year by 11:59 p.m. on the day following the contribution or expenditure.